{"id":41823,"date":"2017-01-25T07:30:54","date_gmt":"2017-01-25T00:30:54","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-january-2017\/"},"modified":"2017-01-25T07:41:30","modified_gmt":"2017-01-25T00:41:30","slug":"news-roundup-january-2017","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-january-2017\/","title":{"rendered":"News Roundup (January 2017)"},"content":{"rendered":"


\n\u00a0
\nOur top Singapore property stories.
\nCredit Suisse: Time is ripe to ease property cooling measures
\nCredit Suisse believes that the time is ripe for an easing of some of the property cooling measures, given that several of its objectives have been met.
\nSpeculative activities, for instance, have significantly dropped as monthly sub-sales now stand at just two percent of total volumes. Foreign demand has also been curbed significantly with overall foreigner buying at seven percent of total volumes, while housing affordability has improved substantially with incomes having outpaced home prices, both on a short-term and long-term perspective.
\nThe financial services firm revealed that achieving a sustainable and stable property market has been the government\u2019s main objective ever since it rolled out eight rounds of property curbs since 2009.
\n\u201cWhile it is imperative to retain the Total Debt Servicing Ratio (TDSR) framework and loan-to-value restrictions to ensure financial prudence amongst households, we believe that stamp duty measures, such as the Additional Buyers Stamp Duty (ABSD) and Sellers Stamp Duty (SSD), add extraneous frictional costs in the current soft property, economic and labour market,\u201d it said.
\n\u201cGiven the weakening macro outlook, further adjustments to property cooling measures would be one of the range of policies the government can use to combat a slowdown.\u201d
\nCredit Suisse noted that an easing of the SSD measures would allow \u201cstretched households to offload their investment properties and alleviate their financial situation, while an easing of the ABSD could allow those who are financially able to re-enter the market to support such sellers\u201d.<\/p>\n

Over 12,000 new homes may rise in East Coast
\nThe authorities are considering building a new Bayshore district, with more than 12,000 new homes along the East Coast, reported the Straits Times.
\nThe article cited tender documents published by the Urban Redevelopment Authority (URA), that invited consultancy firms to craft a master plan for the area sited on reclaimed land, which is currently mostly occupied by private homes.
\n\u201cThe number of public and private housing units has been projected as 6,000 public units and 6,500 private units, and is still under study,\u201d said a URA spokesperson.
\nThe documents show that the new 60ha Bayshore district, approximately two-thirds the size of Bidadari, is bounded by Bedok Camp, Bayshore Road, East Coast Parkway and Upper East Coast Road, with some portions of it currently occupied by a forest.
\nSituated between two upcoming MRT stations, Bayshore and Bedok South on the future Thomson-East Coast Line (TEL), the site is expected to come with amenities like shops, schools, and an integrated transport hub.
\nAlthough the winning consultancy will submit its final proposal in December 2017, the spokesperson added that the new district will not be developed \u201cin the near future\u201d, but the two MRT stations are targeted to be operational by 2024.
\nThe last time HDB flats were constructed there was when the old-generation flats in Marine Parade were built in the 1970s, with some of these units sold on the resale market for more than $900,000 in recent months.<\/p>\n

More developers dangling carrots to move units
\nMore condo developers are offering incentives, such as deferred payment schemes to lure home buyers, following its success in moving units last year, reported the Straits Times.
\nAmong the latest projects to offer such marketing schemes include TG Development\u2019s The Peak @ Cairnhill II, Wheelock Properties\u2019 Ardmore Three and CapitaLand\u2019s Sky Habitat.
\nAlso offering incentives are two projects marketed by ERA Realty Network. One Balmoral is offering a 13 percent discount on prices of all units, while Corals at Keppel Bay is dangling a $50,000 discount on prices of selected units.
\nLast year, OUE\u2019s creative marketing schemes, which included deferred payments for its Twin Peaks project, received good response, prompting other developers to follow suit. In fact, CapitaLand\u2019s own version of the scheme, called the stay-then-pay programme at The Interlace and d\u2019Leedon, was also \u201cwell-received\u201d.
\nBut while more completed projects are likely to offer innovative sales schemes, analysts do not expect this to affect demand for newly launched condos.
\nThis is because completed projects account for \u201ca very small percentage of the primary sales market\u201d, explained Eugene Lim, Key Executive Officer at ERA Realty.<\/p>\n

One Tree Hill Garden put up for sale
\nOne Tree Hill Garden, a freehold landed residential redevelopment site bounded by One Tree Hill, Jalan Arnap and Jalan Kelawar, has been put up for sale by tender, with the owners expecting offers of above $72.8 million ($1,864 psf), revealed marketing agent Knight Frank.
\nWith a site area of around 39,063 sq ft, the three-storey residential development comprises six maisonettes and seven apartments. It is zoned residential, two-storey semi-detached under the 2014 Master Plan, and could potentially be redeveloped into 13 detached and semi-detached houses.
\nThe regular shaped site is within proximity to the Orchard Road shopping belt and the upcoming Orchard Boulevard MRT station.
\nKnight Frank noted that the site is located within a residential estate comprising landed properties as well as high-end condominium and apartment developments.
\n\u201cWe continue to see very strong interest for redevelopment opportunities \u2013 in the past two months alone, three prime residential redevelopment sites at Grange Road, Cuscaden Walk and Hullet Road were transacted,\u201d said Ian Loh, Executive Director & Head, Investment and Capital Markets, Knight Frank.
\n\u201cIn addition, sizeable residential redevelopment sites for landed homes are rarely available, thus One Tree Hill Garden is expected to attract strong interest in view of its location and relatively affordable investment size.\u201d
\nThe tender for One Tree Hill Garden will close on 28 February.
\n\u00a0<\/p>\n

This article was first published in the print version PropertyGuru News & Views. Download PDFs of full print issues or read more stories now!<\/p>\n


\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…News Roundup (January 2017)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 Our top Singapore property stories. Credit Suisse: Time is ripe to ease property cooling...<\/p>\n","protected":false},"author":1,"featured_media":41824,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-41823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/01\/One-Tree-Hill-Garden-1024x683.jpg?fit=1024%2C683&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-aSz","jetpack-related-posts":[{"id":40432,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/credit-suisse-time-is-ripe-to-ease-property-cooling-measures\/","url_meta":{"origin":41823,"position":0},"title":"Credit Suisse: Time is ripe to ease property cooling measures","date":"January 12, 2017","format":false,"excerpt":"\r Some analysts believe there is a case for an easing of measures. Credit Suisse believes that the time is ripe for an easing of some of the property cooling measures, given that several of its objectives have been met. Speculative activities, for instance, have significantly dropped as monthly sub-sales\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/01\/Property-cooling-measures-and-potential-adjustments.jpg?fit=755%2C368&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":37418,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-to-benefit-from-improving-market-sentiment\/","url_meta":{"origin":41823,"position":1},"title":"CDL to benefit from improving market sentiment","date":"December 8, 2016","format":false,"excerpt":"\r CDL has the largest available land bank and unsold inventory, with an estimated 2,909 units worth $5.8 billion. Improving sentiment in the housing market will likely benefit City Developments Limited (CDL), as it remains the developer with the most available inventory, with much of its land bank purchased at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27891,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-market-unaffected-by-indonesian-tax-amnesty\/","url_meta":{"origin":41823,"position":2},"title":"Singapore home market unaffected by Indonesian tax amnesty","date":"September 30, 2016","format":false,"excerpt":"\r Indonesian property holdings in Singapore have seen lower than expected\u00a0liquidation since the introduction of the TAS. The implementation of the Tax Amnesty Scheme (TAS) in Indonesia has not had any material impact on Singapore\u2019s residential segment, said Credit Suisse in a report. Credit Suisse noted that Indonesians have historically\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111211,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/credit-suisse-valued-propertyguru-at-up-to-1-13b\/","url_meta":{"origin":41823,"position":3},"title":"Credit Suisse valued PropertyGuru at up to $1.13b","date":"September 30, 2019","format":false,"excerpt":"\r Credit Suisse said the company managed to continue growing despite property cooling measures in its biggest market, Singapore. Credit Suisse has described real estate portal PropertyGuru as the next unicorn on the Australian Securities Exchange (ASX) as it values the Singapore-based company at $1.02 to $1.13 billion. The figure\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28767,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-market-unaffected-by-indonesian-tax-amnesty-2\/","url_meta":{"origin":41823,"position":4},"title":"Singapore home market unaffected by Indonesian tax amnesty","date":"October 6, 2016","format":false,"excerpt":"\r Lower than expected liquidation since the introduction of the tax amnesty program The implementation of the Tax Amnesty Scheme (TAS) in Indonesia has not had any material impact on Singapore\u2019s residential segment, said Credit Suisse in a report. Credit Suisse noted that Indonesians have historically been amongst the largest\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76684,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/overly-optimistic-bids-may-derail-property-market-rebound\/","url_meta":{"origin":41823,"position":5},"title":"Overly optimistic bids may derail property market rebound","date":"January 15, 2018","format":false,"excerpt":"\r While the property market is expected to head for a rebound, analysts believe the optimism surrounding Singapore\u2019s property market may lead to market instability, reported Singapore Business Review. This comes as the intense competition for en bloc sites had pushed land prices higher. RHB Research revealed that land bids\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/41823"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=41823"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/41823\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/41824"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=41823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=41823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=41823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}